Bitcoin
Satoshi-era Bitcoin whale suddenly wakes up with 400,179% profit
Gamza Khanzadaev
Satoshi-era Bitcoin whale resurfaces, revealing staggering 400,179% profit
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An inactive Bitcoin address containing 48 BTC, valued at $2.57 million, was activated today after 13 years of inactivity, reports Whale alert. This address originally received these coins when Bitcoin was trading at just $13.7 per BTC, representing an astonishing gain of 400,179%.
The reactivation of long-dormant addresses often causes bearish sentiment among market participants. It often suggests that holders are preparing to liquidate their assets, potentially flooding the market with significant amounts of Bitcoin and increasing selling pressure.
This month has seen a trend of decades-old wallets resurfacing, with today’s event being part of a broader pattern. Recently, U.Today reported on another dormant address activation containing approximately $8 million in BTC. Additionally, two addresses holding over $2 million each were reactivated after long periods of inactivity last week.
These moves are particularly notable given the current state of the cryptocurrency market. Bitcoin Price continues to trade at its lowest levels in months, recently hitting $54,300, a level not seen since late April.
In a recent case, the unknown whale, after 13 years of inactivity, transferred 1,949 BTC, equivalent to $111,450, to a new address, named “bc1q6p”. Another 1 BTC was sent to another new address, “3J4Ng”. The investor is expected to further distribute his Bitcoin savings through these new addresses.
Source: Arkham Intelligence
The whales’ use of different Bitcoin address formats is also interesting. Traditional addresses start with “1,” multisignature addresses start with “3,” and SegWit addresses start with “bc1.” These formats offer varying levels of security and transaction efficiency.
About the author
Gamza Khanzadaev
Financial analyst, trader and cryptocurrency enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He also completed a master’s program in banking and asset management.
He wants to help cover economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.